Investing
Cramer Chases Pelosi & Pickens in Clean Energy (CLNE)
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On tonight’s MAD MONEY on CNBC, Jim Cramer said that a stock you can buy that didn’t even have to buy off politicians to do well is Clean Energy Fuels Corp. (NASDAQ: CLNE). This turns out that it was a rather large holding of Speaker Nancy Pelosi and her husband that was disclosed last week in the amount of $50,000 to $100,000 for their own investments back in 2007.
For those of you who follow alternative energy or follow marketpundits, this is T. Boone Pickens’ natural gas for auto vehiclesstock. Pelosi clean energy desires make this an interesting play, andit makes one wonder if more legislation along the lines of the Picken Plan is going to really come down the pipe.
Cramer believes this is as big of a ringing endorsement of the highestsort, but because it is thin volume he wants you waiting five daysbefore pulling the trigger.
This was recently downgraded by Broadpoint, and Pickens recently talked it up ahead of his traveling around to discuss the Pickens Plan. Shares were flat today, but after the Cramer tout this stock traded up 7% to $15.25 in after-hours trading.
Jon C. Ogg
August 25, 2008
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